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Hello rjm1:

You wrote:

I am an ordained minister and I am exempt from Social Security and considered self
employed. I am a recent home owner (means I own a mortgage). I have 20k in
securities. Married; empty nest and 46 years old.

I do NOT have a retirement plan. Should I look into a Roth; SEP IRA or a 401k???
Or is there anything else available.

Churches and ministers operate under a 403(b) plan instead of a 401(k). I would recommend a 403(b)(7) plan (which allows you to invest directly in mutual funds instead of in variable annuities).

You can establish a "Salary Reduction Agreement" by which your church reduces your salary by an amount you select and pays that directly into the plan. Vanguard is a good place to begin looking for a plan administrator. They have excellent selections and the most economical administrative costs of any plan available.

You can contribute up to 20% of your income. Also, 403(b) plans have a "make-up" provision for church employees by which you can contribute even more to make up for years you have worked without a retirement program (if you can afford it).

Hope this helps some.

Respectfully yours,

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